Here are some of the key takeaways:
- Over the last decade, the EU has provided over €5 billion to fossil gas projects, like pipelines or import terminals.
- These funds were provided in the form of grants and subsidised loans (funded by taxpayers).
- There is a huge conflict of interest in how these projects are selected: ENTSOG, an association whose members include many gas companies, have influence over selection of projects.
- Not only do these fossil gas projects build unneeded infrastructure (Europe already has the necessary infrastructure to meet current demand, and demand must decrease over the coming decades in order to meet climate goals), they have also directly wasted huge amounts of money
- €439 million, about 10% of the funding, have been wasted on projects that weren’t completed, or have been built and will not be used.
- The European Commission has proposed a new list of projects, which includes another 41 fossil gas projects.
The EU plans to continue to subsidise gas infrastructure, and likely waste millions more of the taxpayers’ euros, money which could be put to much better use by investing in building up renewable energy infrastructure.
Read the full report from Global Witness here.